Wittenberg Investment Management Inc. Buys Shares of 48,901 NextNav Inc. (NASDAQ:NN)

Wittenberg Investment Management Inc. bought a new position in shares of NextNav Inc. (NASDAQ:NN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,901 shares of the company's stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of NextNav during the second quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new stake in shares of NextNav during the second quarter worth $82,000. Quest Partners LLC bought a new stake in shares of NextNav in the second quarter valued at about $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav in the third quarter valued at about $90,000. Finally, Wolverine Asset Management LLC raised its stake in NextNav by 323.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company's stock worth $98,000 after purchasing an additional 9,248 shares in the last quarter. 79.16% of the stock is owned by institutional investors.

NextNav Price Performance

Shares of NASDAQ NN traded down $0.10 during mid-day trading on Monday, reaching $15.77. The company had a trading volume of 500,862 shares, compared to its average volume of 868,667. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -21.16 and a beta of 0.94. The business's 50-day simple moving average is $10.37 and its 200 day simple moving average is $8.67. NextNav Inc. has a one year low of $3.55 and a one year high of $17.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Wall Street Analyst Weigh In

Separately, B. Riley increased their target price on shares of NextNav from $12.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.